Dated Gold Coast house skyrockets almost $2 million past reserve at competitive auction
A DATED Burleigh Heads house has fetched almost $2 million more than expected, selling for a whopping $5.375 million at auction.
The property was the legacy of a newsagent’s early-morning paper deliveries 55 years ago and changed hands for the first time in its history.
A prominent Gold Coast fashion couple Wez and Eirin Bryett, who founded women’s clothing boutique and fashion line Princess Polly, splashed millions to knock the property down and build a modern masterpiece for their family.
Burleigh Heads home listed for sale, 55 years after it was built by the local newsagent
The two-level house at 1 Short St had 178 groups inquire, with 18 registered bidders at the auction on the weekend.
An opening bid of $1 million was placed before the price was quickly push passed reserve. The hammer fell $1.875 million above the vendors price expectations.
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It was sold by the children of the late Ray and Joan Stuart, who owned a local newsagent.
Mr Stuart was a former Rotary club president and died in 2006. His wife died earlier this year.
The four-bedroom property is on an 810sq m double block with views of the ocean and Burleigh Heads National Park on three sides.
Kollosche director Michael Kollosche, who sold the property alongside Eoghan Murphy, said there were 54 bids placed in just 25 minutes.
“It’s a trophy asset and very unique as it was the first time to market in over 57 years,” he said.
“Most of the buyers looking at it were looking at it as a home site to demolish and build a new home.”
Mr Kollosche said the sellers — siblings Duncan, Philip and Julie — were extremely happy with the result.
“They are elated to get well above their reserve price and know it’s going to end up with a home a family will enjoy,” he said.
“Their preference was not to see a big development there.”